In re TECT Aerospace Group Holdings, Inc., et al.
Libbey Glass Inc.
Alpha Entertainment LLC (aka The XFL)
Alpha Entertainment LLC, formerly doing business as the XFL football league, provided high-energy professional football, reimagined for the 21st century with many innovative elements designed to bring fans closer to the players and the game they love. The XFL was not immune to the COVID-19 pandemic, however, and was forced to cease operations in the midst of its inaugural season. Young Conaway was retained as restructuring counsel to Alpha Entertainment after Alpha Entertainment began facing cash flow issues as a result of the league shutdown. Since the commencement of the chapter 11 case on April 13, 2020, Young Conaway led a chapter 11 sale process to preserve and maximize the value of the company’s assets, and on August 7, 2020, Alpha Entertainment obtained authority to enter into an asset purchase agreement with a group led by Dwayne “The Rock” Johnson, The Garcia Companies and Redbird Capital Partners for the sale of substantially all of the company’s assets. The proceeds from the sale satisfied the prepetition financing obligations with Alpha Entertainment’s founder, as well as the secured obligations, and are funding the wind down and the chapter 11 cases.
Borden Dairy Company
In re MTE Holdings, LLC, et al.
Fairway Energy, LP and affiliates
Fairway Energy, LP and its affiliates operated an integrated business that owned and operated an underground crude oil storage facility in Houston, Texas. They commenced their bankruptcy cases to sell their business as a going concern. Following a marketing and sale process and auction, the Fairway debtors ultimately sold substantially all of their assets to Fairway New Co LLC, an affiliate of their lender, Riverstone Credit Partners-Direct, L.P., for a $77.5 million credit bid. After the sale closed, the debtors successfully achieved confirmation of their plan of liquidation. Young Conaway serves as co-counsel in Fairway’s bankruptcy cases with Haynes and Boone, LLP.
RMH Franchise Holdings, Inc. and affiliates
Young Conaway serves as restructuring counsel to the Debtors. Prior to the filing of their chapter 11 cases in May 2018, the Debtors formed what is believed to be the second-largest franchisee operator of Applebee’s restaurants, operating 159 restaurants across 15 geographically diverse states. The Debtors filed their chapter 11 cases to further the restructuring efforts they had commenced out-of-court in 2017 through additional lease renegotiations and optimization of their restaurant portfolio, and to avoid the forfeiture of their valuable franchise rights as a result of certain precipitous actions threatened by their franchisor, Applebee’s Restaurants LLC and certain of its affiliates. As sole restructuring counsel to the Debtors, Young Conaway guided the Debtors into the chapter 11 process on an expedited basis, preparing the “first day” pleadings necessary to ensure a smooth transition into chapter 11 for the company’s business operations, and working with the Debtors to further their restructuring efforts by, among other things, closing certain underperforming restaurant locations and rejecting the associated leases and franchise agreements, obtaining authority to make certain post-petition severance payments to their employees in connection with the closed locations, and obtaining Court approval of the Debtors’ sale of certain real property. Most importantly, Young Conaway defeated Applebee’s efforts to terminate the Debtors’ franchise agreements, and ultimately guided the Debtors through a consensual new value restructuring whereby the Debtors’ existing equity holder remained in place and the Debtors emerged with a significantly de-levered balance sheet. Young Conaway continues to advise the Debtors as they analyze claims and various other matters.
F+W Media, Inc.
Diesel USA Inc.
Heritage Home Group LLC
New MACH Gen, LLC
Fisker Automotive Holdings, Inc.
Young Conway acted as co-counsel with Sidley Austin LLP to Wanxiang America Corporation in the chapter 11 proceeding of Fisker Automotive Holdings, Inc.
Fallbrook Technologies, Inc.
Nuverra Environmental Solutions, Inc.
LMCHH PCP LLC
Key Energy Services, Inc.
Noble Environmental Power
Scooter Store Holdings, Inc.
Young Conaway acted as co-counsel to The Scooter Store Holdings, Inc. and its affiliated debtors in their chapter 11 proceeding in the United States Bankruptcy Court for the District of Delaware. On the petition date, the debtors were a major supplier of power wheelchairs, scooters and related assistance devices for those with mobility limitations.
Penson Worldwide, Inc.
Young Conaway acted as co-counsel to Penson Worldwide, Inc. and its affiliated debtors in their chapter 11 proceeding in the United States Bankruptcy court for the District of Delaware. The debtors historically provided execution, clearing, custody, settlement and technology products and services to financial firms.
Santa Fe Gold Corp.
Northshore Mainland Services
UniTek Global Services
Quantum Foods, LLC
Young Conaway acted as co-counsel to Quantum Foods, LLC and its affiliated debtors in their chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware. the Debtors are leading further=processor of proteins, including beef, pork and poultry.
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